[quote=SDEaves]The affordable units would be for sale only, just at a lower price to income qualified individuals/families.
The complex is brand new construction.[/quote]
Okay, how MUCH lower of a price are the low income units selling for than the market (i.e. 20% 25%, etc)? For the first year that the project is sold out, the market rate buyers will have these lower sold comps to for any prospective sellers to contend with.
If the buyers buying the five low-income units are allowed to sell whenever they want to (have no “length-of-holding” clause in their contract) and they are limited to find buyers who fit the low income criteria as well, then there may be a stray “low-income sold comp” from your complex for you to contend with when you want to sell.
If the buyers buying the five low-income units today are not allowed to sell for, say five years or more and you know you won’t hold the property for that long, then you will not have to contend with these (lower) sold comps during the time of your ownership if you can successfully sell when you want to.
Currently, you have only 5.5% of units selling at a lower price.
How much would the mo HOA dues be? And does the project have MR, and if so, for how many years?
And … sorry to be repetitive, but are you absolutely positive that it is all brand new construction from the ground up?
